Trina Solar (TSL)

[zigzagman]

A 'Silver Cross' on TSL is VERY Close~

One of my favorite longer term plays going Long happens when the 15 Day Moving Average (DMA) crosses up through the 50DMA. That's called a 'Silver Cross' and is usually a VERY bullish entry signal for a Long Term Swing Trade or to Hold. (A 'Golden Cross' is when the 50DMA crosses up through the 200DMA and is even more powerful). When I enter on a 'Silver Cross', as long as the PPS stays above the 15DMA and the middle Bollinger Band on a closing basis, I will stay in the trade.

As far as trading this one shorter term, it's a bit on the scary side since it can move $2-$3-$4.00 in a single session (usually down). I've read the most recent news on this stock, and most of it is positive. I'm not sure if this one moves against the price of oil or not.

Short term I see a possible pullback as it's very overbought, and Friday's candlestick is a potential reversal signal. Add to that the volume is diminishing, and some of the indicators have flattened out.

Overall, when you add up all of the Technical Indicators on this daily chart, there is much more reason to be bullish than bearish. I see a golden opportunity to enter on a 'Silver Cross' and see how this stock ends up a few months from now. It's in a good sector that will be more positive in the future if the price of oil continues to be at these levels or goes higher. In years to come, solar power is going to gain a lot of ground in my opinion.

On a final note, I see that it is about to take out the $34.14 resistance level. The next real resistance level I see is at $42.22 and if the 'Silver Cross' happens (which looks to be almost certain), this one could really take off to the upside in the near future.

I will buy some if it pulls back to near $30. and then recovers in the short term knowing the 'Silver Cross' is almost certain. I watch how the 5DMA crosses up or down through the 15DMA for shorter term looks at strength/weakness. The PPS hasn't been above the 50DMA in quite a while, which is a sign of strength.




The weekly chart is mostly bullish. If the PPS can break up above the middle Bollinger Band, there will be little resistance up to the upper Bollinger Band that sits at $51.26 The MACD looks really good and is about to give two buy signals if the rally continues, but CMF Money Flow is the weak link here. Otherwise, the weekly chart is more bullish than bearish. The first level of resistance I see is just below $40.00 and the next is around $51.00





.....Smoke 'em!.....